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The Open University, Milton Keynes >
Department of Economics, Faculty of Social Sciences, The Open University >
Open Discussion Papers in Economics, The Open University >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/65702
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Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Wright, Ian | | en_US |
| dc.date.accessioned | | 2011-03-17 | | en_US |
| dc.date.accessioned | | 2012-11-01T13:56:48Z | | - |
| dc.date.available | | 2012-11-01T13:56:48Z | | - |
| dc.date.issued | | 2011 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/65702 | | - |
| dc.description.abstract | | This paper describes a nonlinear dynamic model of the convergence of market prices to natural prices in a multisector simple production economy under conditions of a constant technique and composition of demand. Prices and quantities adjust in real time according to the classical principle of cross-dual dynamics. The economy gravitates toward an asymptotically stable equilibrium in which natural prices are proportional to labor-values. To demonstrate an application of the model we reply to Mirowski's (1989) critique that Marx held a contradictory substance and field theory of value. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | Economics Department, Faculty of Social Sciences, the Open Univ. Milton Keynes | | en_US |
| dc.relation.ispartofseries | | Open Discussion Papers in Economics, The Open University 75 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.stw | | Preistheorie | | en_US |
| dc.subject.stw | | Anpassung | | en_US |
| dc.subject.stw | | Theorie | | en_US |
| dc.title | | Convergence to natural prices in simple production | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 654352348 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | en_US |
| Appears in Collections: | | Open Discussion Papers in Economics, The Open University
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